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I can't imagine the D&D changes will matter too much to Pathfinder, especially if it's just a 5.5. If it's more significant, and ends up being more like a 6E even if they don't call it that, then it could be a big deal for Pathfinder, but I'd need to know a lot more before I started guessing in what fashion. As many have said, name recognition and brand loyalty are huge things to overcome.
At the moment I'm mostly expecting character creation stuff for 5.5, because that's what they've been fiddling with. I'd put money on no more alignments and changing the terminology for races. I really hope they go with Pathfinder's Ancestry+Heritage system, because not only do I think the terminology sounds natural, but the mechanical consequences it has for things like Versatile Heritages also feel super organic. It's probably my favorite part of Pathfinder 2E. I can't imagine doing it a better way, but I've certainly seen worse, and I hope they don't mess it up just because they don't want to look like they're copying their competitor (I don't think that would help Pathfinder, just hurt the industry).
Other than that, they'll probably do the custom Ability Score Increases thing, but I'm not sure they'll commit to the "race is entirely roleplayed and not mechanical at all" thing they asked about in surveys. I think for the average player that will actually backfire when it comes to flavor and engagement. If they did, that's the sort of thing I think could suddenly boost up Pathfinder.